Published on 28 Aug 2023.
RAM Ratings has affirmed the LECA™ rating of “LECA1” for Brighton Management Limited (BML or the Company), a licensed insurance manager and underwriting manager in Labuan International Business and Financial Centre (Labuan IBFC). The rating - the highest on a scale of six grades - indicates excellent capacity and competence in fulfilling performance obligations.
BML continues to be assessed favourably in terms of its operating record, staffing, management and financial standing. Meanwhile, business infrastructure and risk management practices are adequate.
Established in 2005, BML has served Labuan IBFC insurance and insurance-related entities for over 15 years. It provides a range of corporate services including underwriting management and claims handling, as well as administrative and audit services. BML’s clientele spans about 40% of insurance and related entities in the jurisdiction, making it the largest among domestic and foreign insurance managers and/or underwriting managers.
BML is led by an experienced management team with at least two decades of experience in the finance, insurance and/or audit fields. The Company’s operations are supported by 68 adequately qualified staff. Meanwhile, BML’s financial performance remained sound in 2022, with revenue and pre-tax margin comparable to the previous 4-year average (2018-2021). Liquidity was also robust; cash reserves as at end-2022 were sufficient to support about 16 months of operating expenditures.
LECA™ is an assessment service from RAM Rating Services Berhad for companies based in Labuan IBFC. LECA™ ratings are typically valid for up to one year after they are assigned. During this time, the assessment will be monitored by RAM Ratings and any material developments could change the rating assigned.
For information on LECA™ ratings assigned, visit https://analytics.ram.com.my/LECARating.
Chuan Shyang Lin
(603) 3385 2536
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